Cybercrime cost Singapore $1.1 billion in 2010, with more than 1.2 million people falling prey to it: Survey

More than 1.2 million people fell prey to cybercrime in 2010, a recent survey has revealed. -- ST PHOTO: MULIGAN RAJASEGERAN By Irene Tham More than 1.2 million people in Singapore fell prey to cybercrime in 2010, a recent survey has revealed. They were tricked into losing $247.6 million. In addition, some $855.6 million was lost due to the time spent in resolving such crimes, said security firm Symantec, citing a survey it conducted from February to March this year. Symantec polled 19,600 people in 24 countries, including Singapore. The total damage last year works out to $1.1 billion. Globally, losses due to cybercrime amounted to US$388 billion (S$484.6 billion), more than the global black market trading marijuana, cocaine and heroin. Most of the cybercrimes in Singapore last year were caused by computer viruses, which made users' computers vulnerable to remote spying. ...